Can I make withdrawals from my Savings Benefit Plan?

Upon request, you can receive up to 50% of your investment income as a lump sum benefit to meet unanticipated needs.  This can be done only once in a year after the first full year of the policy. We understand that life comes with its own exigency.

What happens if I miss a payment?

Your plan remains intact for a maximum period of 30 days and then lapses. After the 30 days grace, the policyholder ceases to enjoy life assurance cover. It continues as you resume your contributions.

If your contribution ceases for a consecutive 12 month period, you will not enjoy life assurance cover and your total premium and investment contribution with the applicable interests will be paid before the policy can be activated.

Can I increase my contributions to stay ahead of inflation?

Yes, you can. The Savings Benefit Plan is flexible and allows you to increase your contributions to hedge against inflation.

Can I cash out on Savings Benefit Plan?

Yes you can terminate the policy after the first three years at no cost. Terminating your policy at less than 3 years will attract a 10% to 20% penalty of your investment savings.

Can I contribute into Savings Benefit Plan with my Salary Account?

Yes you can. This is done by simply giving us a direct debit mandate for making payments from your salary account.